A stochastic approach to hotel revenue management considering multiple-day stays

被引：7
|
作者：
Liu, Shuqin
Lai, Kin Keung
Dong, Jichang
Wang, Shou-Yang
机构：
[1] City Univ Hong Kong, Dept Management Sci, Kowloon, Hong Kong, Peoples R China
[2] Hunan Univ, Coll Business Adm, Hunan 410082, Peoples R China
[3] Beihang Univ, Sch Econ & Management, Beijing 100083, Peoples R China
[4] Chinese Acad Sci, Grad Sch, Sch Management, Beijing 100080, Peoples R China
[5] Chinese Acad Sci, Inst Syst Sci, Acad Math & Syst Sci, Beijing 100080, Peoples R China
[6] Univ Tsukuba, Grad Sch Syst & Informat Engn, Tsukuba, Ibaraki 3058573, Japan
来源：
INTERNATIONAL JOURNAL OF INFORMATION TECHNOLOGY & DECISION MAKING | 2006年 / 5卷 / 03期
关键词：
revenue management; stochastic programming; semi-absolute deviation;
D O I：
10.1142/S021962200600212X
中图分类号：
TP18 [人工智能理论];
学科分类号：
081104 ; 0812 ; 0835 ; 1405 ;
摘要：
We present a stochastic optimization model for hotel revenue management with multiple-day stays under an uncertain environment. Since a decision maker may face several scenarios when renting out rooms, we use a semi-absolute deviation model to measure the risk of hotel revenue, and only consider the risk of falling below the expected revenue. The method proposed in this paper can be changed to a linear programming model by applying linearization techniques. Some examples are presented to illustrate the efficiency of this method.
引用
收藏
页码：545 / 556
页数：12
相关论文
共 50 条
  • [1] Booking models for multiple-day stay hotel room revenue management
    Liu, Shuqin
    Lai, Kin Keung
    Wang, Shouyang
    Dong, Jichang
    [J]. ICIM 2006: Proceedings of the Eighth International Conference on Industrial Management, 2006, : 681 - 686
  • [2] AN APPLICATION OF YIELD MANAGEMENT TO THE HOTEL INDUSTRY CONSIDERING MULTIPLE DAY STAYS
    BITRAN, GR
    MONDSCHEIN, SV
    [J]. OPERATIONS RESEARCH, 1995, 43 (03) : 427 - 443
  • [3] A stochastic approach to hotel revenue optimization
    Lai, KK
    Ng, WL
    [J]. COMPUTERS & OPERATIONS RESEARCH, 2005, 32 (05) : 1059 - 1072
  • [4] Model of Price Optimization as a Part of Hotel Revenue Management-Stochastic Approach
    Petricek, Martin
    Chalupa, Stepan
    Melas, David
    [J]. MATHEMATICS, 2021, 9 (13)
  • [5] A stochastic model for room allocation of hotel revenue management
    Li, Bingzhou
    [J]. PROCEEDINGS OF INTERNATIONAL SYMPOSIUM ON CHINA HOSPITALITY MANAGEMENT AND BUSINESS INFORMATION 2007, 2007, : 219 - 227
  • [6] A simulation approach to hotel revenue management training
    Cox C.
    [J]. Journal of Revenue and Pricing Management, 2018, 17 (5) : 356 - 364
  • [7] Room allocation for hotel revenue management considering consumer choice behavior
    Qin, Chaoyong
    [J]. 2014 INTERNATIONAL CONFERENCE ON MANAGEMENT OF E-COMMERCE AND E-GOVERNMENT (ICMECG), 2014, : 323 - 328
  • [8] A decomposition approach in network revenue management: Special case of hotel
    Aslani S.
    Modarres M.
    Sibdari S.
    [J]. Journal of Revenue and Pricing Management, 2013, 12 (5) : 451 - 463
  • [9] A Simulation-Based Overbooking Approach For Hotel Revenue Management
    Fouad, Ahmed M.
    Atiya, Amir F.
    Saleh, Mohamed
    Bayoumi, Abd El-Moniem M.
    [J]. 2014 10TH INTERNATIONAL COMPUTER ENGINEERING CONFERENCE (ICENCO), 2014, : 61 - 69
  • [10] Developing an integrated revenue management and customer relationship management approach in the hotel industry
    Vaeztehrani A.
    Modarres M.
    Aref S.
    [J]. Journal of Revenue and Pricing Management, 2015, 14 (2) : 97 - 119
12345